Cityview is a cooperative housing community near downtown Minneapolis, consisting of three historic brownstone apartment buildings, and their adjacent yards and gardens, located at 18 Street and Elliot Avenue South. The three buildings, originally constructed in 1896, were gutted and remodeled in 1981 by PPL-Project for Pride in Living. The original apartments were reconfigured, and new "linking" additions were built, transforming the once individual structures into a single complex of 32 distinctive apartment homes.
Q:What is “cooperative housing”?
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A housing cooperative is a not for profit corporation, formed by any group of people interested in acquiring housing, and sharing ownership of their residence. Each partner becomes an “member’ of the corporation, owning “shares” in the corporation which holds all assets and liabilities related to the property.
There is no standard design configuration for a cooperative. It can consist of a cluster of newly built detached houses, or a 30 story high-rise. The defining feature is the unique shared ownership structure.
Unlike the owner of a house or a condominium, a Cityview Co-op member does not own a titled piece of property. A Cityview member shares ownership of the entire apartment complex.
All members own equal shares of the corporation, and their membership gives them the right to occupy a specific apartment. Each member pays a set monthly carrying charge that covers their share of the operating expenses of the corporation; including the mortgage, taxes, and all maintenance of the co-op.
Q:What does a Co-op member actually own?
CITYVIEW COOPERATIVE
One historic property, 30 unique households.
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Q:Who runs the Co-op?
Upon receipt of a cash equity investment in the Co-op, a new member receives a Membership Certificate. This represents their legal interest in the Co-op. Regardless of the dollar amount invested, the size of the apartment a new member will be living in, or the number of people in the member household; each member receives one corporate voting share.
Cityview Cooperative is democratically managed. The business and legal affairs of Cityview Cooperative are conducted by a Board of Directors. This Board is elected yearly by the Co-op members. Every member in good standing is eligible to serve as a Board member. The cooperative functions through its Board of Directors which acts on behalf of the entire membership.
The Board performs important duties, such as: fiscal planning, entering into contractual arrangements, establishing eligibility standards for admission into the membership, determining the type and degree of maintenance and service our property requires, establishing policies pertaining to use and occupancy of the cooperative, and negotiating on behalf of the membership.
The Cityview Board oversees a variety of committees, made up of Co-op member volunteers, which manage, maintain, and administrate our corporation. The Cityview Board and committees meet regularly, and those meetings are always open to all members.
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We're hosing down the rustic paved patios of our professionally landscaped outdoor living spaces, and polishing our indispensable stainless steel barbeque grills. As sunshine warms up the city, Cityview members head outside!
Urban oasis. Cultural refuge.
Inspired collaboration.
A compelling alternative to single family home ownership
or rentals - urban style, diverse culture, and the serenity of nature happily co-exist in this democratically managed community. Since 1981, when three historic Minneapolis Victorian brownstone apartment buildings were converted
into cooperatively owned residences, dozens of households have participated as partners in ownership of this unique and dynamic civic landmark.
What is Cityview?
A green retreat in the heart of the city.
As our long, cold Minnesota Winter grudgingly surrenders to Spring, Cityview Co-op's buildings and grounds are nudged awake by the sun and spirit of a new season. For Cityview members, it's a time of garden planning and seed catalogues, of raking and fertilizing.
Q:How can members participate as volunteers?
Cityview members contribute their knowledge and skills to operate and maintain our home and business. There is an expectation of participation of all member households. Almost every task involved in the day-to-day operation of our apartment complex is performed by a volunteer member, and no job is valued more than any other. Members may volunteer their time vacuuming hallways, weeding gardens, planning the budget, or picking up trash around the grounds.
Currently, Cityview members may lower their monthly carrying charges by taking advantage of our volunteer rebate program. For every hour of Co-op approved work performed, members may take a $10.00 deduction from their monthly fees, not exceeding 10 hours-or $100.00-per month.
Ongoing jobs and special assignments are organized and made available to members by our four primary committees: Finance, Buildings, Marketing & Membership, and Grounds. Members are encouraged to attend committee meetings, and participate to the greatest level of their abilities.
Most importantly, members have to reside here. Cityview Cooperative apartments are required by our corporate By-Laws to be member occupied. Cityview must be a members primary residence, and be legally homesteaded by that member. Members must also remain in compliance with the terms of their Occupancy Agreement, the leasing document which allows a member to inhabit a dwelling at Cityview, and all Cityview policies. When you become a Cityview member and move into your apartment, you assume definite financial obligations and responsibilities for its care and maintenance. These include everything from making timely payments of your carrying charges, and following the rules of community living; to day-to-day housekeeping, proper care of appliances, and trash disposal.
As members, we are each responsible for maintaining our unit’s plumbing, electrical, and structural systems “from the sheetrock in”. For example, if we have a plumbing problem with our bathroom sink’s faucet; it is our responsibility to fix the problem. If a plumbing problem exists in the wall, outside the sheetrock of our unit, the Co-op at large is responsible. This means we are responsible for furnishing our units, as well as any discretionary decoration or remodeling that we do. Structural improvements or remodeling, and the installation of certain appliances, must be approved by the Board of Directors. All members are responsible for their electrical expenses, telephone service, and the insurance of the contents of their apartments.
The Co-op pays water and sewer, heating, electricity for our common spaces, insurance, real estate taxes, mortgage payments, and all administrative expenses.
Q:What are the responsibilities of a member?
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Q: Speaking of taxes, what are there tax
advantages of living at Cityview?
Homestead Tax Qualification
Minnesota Statutes Section 273, 133 provides that owner occupied property owned by a cooperative housing association will qualify for real estate taxes at homestead rates.
State Income Tax Deductions
Minnesota Statutes Section 290.09(17) provides any resident shareholder of a cooperative housing association with a deduction for his or her pro rated share of the association's interest expense and real estate taxes.
Federal Income Tax Deductions
Internal Revenue Code Section 216 provides that any resident shareholder of a cooperative housing association may deduct his or her pro rated share of the association's interest expense and real estate taxes on his or her individual Federal Income Tax return.
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The three massive "brownstone" apartment buildings that became Cityview Co-op in 1981, have stood majestically on the edge of downtown Minneapolis for parts of 3 centuries.
A few years ago, Cityview members voted to buy an abandoned adjacent lot, that had been decimated by fire, from the city of Minneapolis. The purchase greatly expanded our grounds - and gave us one of our best downtown skyline views.
Cityview households share the responsibilities and benefits of property management. For example: those members who tend the Co-op herb garden receive rebate dollars for their participation, but all members enjoy the fresh cut herbs for their cooking.
Minnesota Statutes Section 273, 133 provides that owner occupied property owned by a cooperative housing association will qualify for real estate taxes at homestead rates.
